condominium ownership


A type of ownership where each person owns their individual unit outright, while equally sharing the common areas.

In addition to the individual units, there are typically exclusive-use areas, such as each unit's driveway or enclosed yard, along with common areas such as walkways, grassland, swimming pools, and so forth.

The maintenance of the common elements is co-ordinated by the condominium corporation, to which each owner regularly pays condominium fees.

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